Retiring Ahold USA Head to Resign From Board
Zaandam, Netherlands, Ahold USA Retail president and CEO Bill Grize will step down from the Dutch grocery giant’s board at the end of December in preparation for his previously announced retirement.
Lowe’s Q3 Earnings Up 15.5%
Wilkesboro, N.C., Lowe’s Cos. income rose 15.5% in the third quarter to $522 million, up from $452 million in the same period last year. Comp-store sales increased 5.2% as total sales increased to $9.1 billion, from $7.8 billion a year ago.
“Continued signs of a robust housing market, improving employment and strong demographic trends provide a foundation for our optimism for the future,” Robert Tillman, chairman and chief executive, said in a statement.
The company’s 5.2% comps on top of the 12.2% increase in last year’s third quarter marked the best two-year performance in almost a decade.
Barnes & Noble 3Q Profit Falls 25%
New York City, Barnes & Noble, Inc. reported earnings of $10.2 million in the third quarter ended Oct. 30, a decline of 25% when compared with earnings of $7.6 million in the prior-year period. The book chain attributed the decrease in part to higher expenses and soft demand for bestsellers. Higher purchases of DVD media, juvenile products and cafe merchandise helped offset some of that weakness, the retailer said. Same-store sales were up 0.9% for the 13-week period, while overall sales rose 4% to $894.9 million at Barnes & Noble stores. Total revenues for the third quarter increased 15% to $1.46 billion from $1.27 billion.